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Negative pledge clause

• A bond covenant that requires the borrower to grant lenders a lien equivalent to any liens that may be granted in the future to any other currently unsecured lenders.

 
 Embedded terms in definition
 Bond covenant
Bond
Future
Lien
Unsecured
 
 Related Terms
 Conversion clause
Inflation escalator clause
Multicurrency clause
Negative amortization
Negative carry
Negative convexity
Negative covenant
Negative duration
Negative leverage
Negative yield curve
Pledge of accounts receivable
Subordination clause

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